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Asean Affairs 3 April 2011
By David Swartzentruber
AseanAffairs 3 April 2011
These were the most important stories published by Asean Affairs during the week of March 26-April 1.
Cambodian-Korean trade increases
The value of bilateral trade between Cambodia and South Korea has risen 38 percent in the first two months of this year, compared to the same period of 2010.
READ MORE: http://www.aseanaffairs.com/cambodia_news/trade/cambodian_korean_trade_increases
Indonesia to protect industries from Chinese goods
The Indonesian government will protect the country's manufacturers from a huge influx of Chinese products after the implementation of the Asean-China Free Trade Agreement last year, Industry Minister MS Hidayat said.
READ MORE: http://www.aseanaffairs.com/indonesia_news/trade/indonesia_to_protect_industries_from_chinese_goods
Heavy debts put deal at risk
ArcelorMittal's plan to buy into G Steel Plc might falter and the local steelmaker will be forced to delist from the Stock Exchange of Thailand because of the pending restructuring of US$950 million in debts.
READ MORE: http://www.aseanaffairs.com/thailand_news/investment/heavy_debts_put_deal_at_risk
Relocation trend a challenge
Outward investment by Japanese companies in Thailand is unlikely to abate in the near future, considering the strength of the yen, ageing demographics in Japan and the cost advantages of moving production closer to Asean's growing market of middle-class consumers, particularly as the region moves to deepen economic ties.
READ MORE: http://www.aseanaffairs.com/thailand_news/investment/relocation_trend_a_challenge
Extra meeting on Mekong dam set
Mekong region countries are to have an extra meeting for the controversial Xayaburi dam. Vietnam, Cambodia, Laos and Thailand have agreed to convene a special session on the prior consultation process for Laos’ controversial proposed Xayaburi hydropower dam on the Mekong River before determining how they should proceed with the proposal, the Mekong River Commission announced.
Philippines investment is not popular
The Philippines was among the least popular investment destinations in Southeast Asia at a time when many companies in the region are planning to expand their operations, according to a recent survey conducted by the Asean Business Advisory Council (ABAC).
READ MORE: http://www.aseanaffairs.com/philippines_news/investment/philippines_investment_is_not_popular
Toyota joins in Cambodian rice scheme
Toyota Tsusho, the trading arm of Japan's Toyota Motor Corporation, has joined with Thailand's Huay Chuan Rice Co to help develop Cambodia's growing rice industry.
READ MORE: http://www.aseanaffairs.com/thailand_news/agriculture/toyota_joins_in_cambodin_rice_scheme
Mekong River Commission discloses proposed dam’s environmental impacts
The Mekong River Commission (MRC) Secretariat review of trans-boundary social issues related to Laos’ controversial proposed Xayaburi hydropower dam on the Mekong River focuses mainly on the consequences of environmental impacts, the Secretariat said in its latest report.
READ MORE: http://www.aseanaffairs.com/laos_news/energy/mekong_river_commission_discloses_proposed_dam_s_environmental_impacts
Thai government advised to drop food price caps
The Thai government should abandon its policy of food price control, as it causes food shortages and affects farmers' incentives to stay in the industry.
READ MORE: http://www.aseanaffairs.com/thailand_news/agriculture/thai_government_advised_to_drop_food_price_caps
VW to make Malaysia its regional hub
Volkswagen AG plans to make its plant in Pekan its regional hub and 800 new jobs are expected to be created within the next 2 years.
READ MORE: http://www.aseanaffairs.com/malaysia_news/automotive/vw_to_make_malaysia_its_regional_hub
First zero-carbon store in Asean
Tesco Lotus is preparing to open its first zero-carbon retail store in Southeast Asia in Thailand in November.
READ MORE: http://www.aseanaffairs.com/thailand_news/environment/first_zero_carbon_store_in_asean
Indonesian banks face difficult year
Though ratings agencies are bullish about Indonesia’s stability, bankers are worried about a series of hurdles likely to see profitability fall from last year.
READ MORE: http://www.aseanaffairs.com/indonesia_news/finance/indonesian_banks_face_difficult_year
Vietnamese FDI disbursements hit peak
Disbursement of foreign direct investment in March reached US$1.39 billion, the highest level since the beginning of the year, according to the Foreign Investment Agency (FIA) of the Ministry of Planning and Investment.
READ MORE: http://www.aseanaffairs.com/vietnam_news/investment/vietnamese_fdi_disbursements_hit_peak
Lynas discusses rare earth venture
Australia-listed Lynas Corp Ltd had received approvals to build a rare earth refinery in Australia and China but picked Malaysia as the “preferred location” given its “proximity to market, access to high quality chemicals, utilities and engineering skills' coupled with its transparent regulatory framework,” said the company.
Vietnam orders SOEs to sell dollars
The State Bank of Viet Nam has announced its plan to order major state-owned economic groups and corporations to sell US$376 million in US dollar reserves to the commmercial banking system next week to reduce the accumulation of dollars in the economy.
READ MORE: http://www.aseanaffairs.com/vietnam_news/economy/vietnam_its_banks_orders_soe_to_sell_dollars
Goldman raises Malaysia’s GDP forecast
Goldman Sachs has raised Malaysia's 2011 gross domestic product (GDP) growth forecast to 5.5 percent from 5.2 percent previously, driven by robust domestic demand.
READ MORE: http://www.aseanaffairs.com/malaysia_news/economy/goldman_raises_malaysia_s_gdp_forecast